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U.S. Stocks Turn Lower to Start Week Ahead of New Data

Stock Markets Sep 06, 2022 10:22AM ET
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By Liz Moyer

Investing.com -- U.S. stocks erased early gains and turned lower on Tuesday as investors looked toward more economic data and the Fed’s move later this month.

At 10:20 ET (14:20 GMT), the Dow Jones Industrial Average was down 243 points or 0.8%, while the S&P 500 was down 0.8% and the NASDAQ Composite fell 1.2%.

Stocks were moving lower after U.S. workers returned from a long Labor Day weekend, with many returning to offices for the first time since the pandemic began. Later this month, Federal Reserve policy makers meet to decide the next step on interest rates, with many onlookers expecting a 0.75 percentage point hike as the Fed made in June and July.

Consumer price data will come out before then, however, and the Fed releases the periodic Beige Book reporting on business and economic conditions from its regional banks later this week.

Bed Bath & Beyond Inc (NASDAQ:BBBY) shares fell 16% after the death of chief financial officer Gustavo Arnal over the weekend. 

CVS Health Corp (NYSE:CVS) shares fell 0.3% after it announced an $8 billion deal to acquire Signify Health Inc (NYSE:SGFY). Shares of Signify rose 0.4%.

Oil was mixed after OPEC and its allies decided to cut October production by 100,000 barrels a day, bringing it back to August levels. Crude Oil WTI Futures was up 0.9% to $87.71 a barrel, while Brent Oil Futures crude fell 1.9%, to $93.95 a barrel. Gold Futures fell 0.3%, to $1717 an ounce.

U.S. Stocks Turn Lower to Start Week Ahead of New Data
 

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Comments (8)
Tom Michaels
Tom Michaels Sep 06, 2022 1:49PM ET
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Folks, it's all rigged for loss. That's the manipulation of the manipulators.
Vito Tagliano
Vito Tagliano Sep 06, 2022 10:39AM ET
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Play stupid Covid and Geo-political games, Win stupid Prices! Green Deal Built Back Better just a Cherry on top of it!
Tom Michaels
Tom Michaels Sep 06, 2022 10:26AM ET
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The fed, excuse da jour. BS
Frank Leisner
Frank Leisner Sep 06, 2022 10:12AM ET
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What is this writer looking at??
Jimmy Joseph
Jimmy Joseph Sep 06, 2022 10:12AM ET
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referred the wrong template
Erikke Evans
Erikke Sep 06, 2022 10:09AM ET
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lol
Bhagwan Dass
Bhagwan Dass Sep 06, 2022 10:07AM ET
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people of world are crying share market goes up without reason
Mitchel Pioneer
Mitchel Pioneer Sep 06, 2022 10:03AM ET
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One hit wonder Apple prepares another iPhone launch, and lemmings from around the globe will line up to by a $1K+ phone, as consumers continue to spend money they don't have.  What a joke.
Samson Ling Joon Lee
Samson Ling Joon Lee Sep 06, 2022 10:03AM ET
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salty little boy can't afford one? poor thing
Alex Malmstrom
Alex Malmstrom Sep 06, 2022 10:03AM ET
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Samson Ling Joon Lee  Why would you willingly want to get ripped off, again, for a 'new' Crapple phone which has the same tech as an iphone 9?
James Wills
James Wills Sep 06, 2022 10:03AM ET
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Alex Malmstrom Nah he's buying a Samson S22
Steven ML
Steven ML Sep 06, 2022 10:03AM ET
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my $200 phone does exactly the same as an iPhone. I can make phone calls, take pictures and browse the internet. Why spend five times the amount?
tom skinner
cosmicosmosis Sep 06, 2022 9:47AM ET
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Time to change the headline again....like every day last week.  Sheesh, this is getting ugly.
 
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